Senate GOP Clarity Act Bans Officials From Crypto Sponsorship

Senate Republicans released the Clarity Act text on Wednesday, adding ethics rules that bar public officials–including the President–from issuing or sponsoring digital assets while in office.

The bill targets conflicts of interest in the crypto sector, a concern that has grown as political figures launch their own tokens. The new provisions require officials to divest any direct involvement with digital asset projects or face penalties.

Sponsors said the language closes a loophole that allowed elected leaders to promote tokens without formal disclosure. The bill does not ban officials from holding crypto as an investment, only from acting as an issuer or sponsor.

Committee markup is expected in the coming weeks. A floor vote has not been scheduled.